Cornerstone Enterprises LLC Makes New $1.30 Million Investment in International Business Machines Co. (NYSE:IBM)

Cornerstone Enterprises LLC acquired a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,897 shares of the technology company's stock, valued at approximately $1,296,000. International Business Machines makes up 0.8% of Cornerstone Enterprises LLC's holdings, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after buying an additional 427,499 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of International Business Machines by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock worth $1,465,223,000 after purchasing an additional 126,547 shares during the last quarter. Norges Bank purchased a new stake in International Business Machines during the 4th quarter worth about $1,236,176,000. Finally, Invesco Ltd. raised its holdings in International Business Machines by 5.1% during the fourth quarter. Invesco Ltd. now owns 4,036,860 shares of the technology company's stock worth $887,423,000 after purchasing an additional 194,814 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

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Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

International Business Machines Trading Up 0.7 %

Shares of NYSE:IBM traded up $1.67 during trading on Tuesday, reaching $240.73. The stock had a trading volume of 3,330,888 shares, compared to its average volume of 4,211,111. The stock has a market cap of $223.22 billion, a P/E ratio of 37.55, a PEG ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The business has a fifty day moving average price of $248.67 and a 200-day moving average price of $233.14.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is 104.21%.

Wall Street Analyst Weigh In

Several research analysts have commented on IBM shares. StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Jefferies Financial Group dropped their target price on International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $232.75.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.